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Scooped by Martin (Marty) Smith
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Startups Vs. Fortune 100: Keep Thinking Like a Startup

Startups Vs. Fortune 100: Keep Thinking Like a Startup | Startup Revolution | Scoop.it

Thinking Like A Startup
Startups have to be innovative and nimble. This post from FoxBusiness suggests continuing to "think like a startup" is a good idea no matter what stage of Biz Dev you are in.

The tendency, the post explains, is to bring in a "professional management" layer too early. That layer is used to the big budgets of the Fortune 1000 and can't thrive in startup land.

I have an interesting perspective since I left a Fortune 1000 company to start FoundObjects.com. Here is what was difficult about that transitions:

* Was used to legitimacy being granted automatically.
* Had to train & develop new muscles because we had NO MONEY.
* Had to solve problems differently because we had NO MONEY.

* Planning cycle shortened and became more about MONEY today instead of market domination tomorrow.
* Tactics changed because low hanging less expensive to develop fruit had to come to the top.
* Partnerships changed because we had to trade things other than money and that usually meant looking for partners in similar stages of development.

That last bullet is a key. Don't try and pitch a Fortune 1000 when you are a startup unless you are trying to sell them something and only do that when invited. You can't crack those vaults, tempting as it may seem, unless they are already interested.

This means you have to create alliances with companies in similar stages of development or maybe one or two steps up the ladder. Hit singles to learn how to hit homers.

QUANTITY in startups is often more important than quality and it RARELY is when working for a giant. Giants can afford to be snobs, startups can't. Why I like startups :).M

Martin (Marty) Smith's insight:

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Suggested by Agnipravo Sengupta
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How Startups Can Use Power Of Social Media (Infographic)

How Startups Can Use Power Of Social Media (Infographic) | Startup Revolution | Scoop.it

"Startups face tremendous pressure while competing with their bigger counterparts. They neither have large manpower nor big infrastructure. Social media can become an effective solution in helping them grow. This infographic shows how startups should utilize the power of social media."

Martin (Marty) Smith's insight:

Startups are "too busy" to create and publish content on the web. I understand. There was a time when I felt guilty about how much time I spend on social media. 

One day I realized the time I spend on social media IS MY JOB. I'm a marketing guy. I've been selling one thing or another for thirty years starting with bar soap for P&G and now our CrowdFunde startup.

Social media is where relationships start and all selling is relationship selling today since we don't buy anything from someone we don't "know" and trust. Despite the fact it makes startups feel like Willy Loman at some point they need to sell something to someone. 

Selling something to someone means startups must embrace social media marketing as visualized in this infographic.  

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lorrinda's curator insight, February 19, 5:19 AM

Micropreneurs can use the power of social media for selling because "...social media is where relationships start and all selling is relationship selling" [so that you are known, liked and trusted]... enough that people feel comfortable buying from you or based on your recommendation.

Matty Bdn's curator insight, February 20, 1:23 AM

Comment les médias sociaux peuvent-ils devenir une solution au développement des startups ?

 

Voici un exemple d'infographie efficace pour montrer comment les startups doivent les utiliser. 

Samuel Pavin's curator insight, February 21, 3:16 AM

Social Media for startups. Not just communication but a major tool for advertising, sales, marketing and customer service.